What would Australia do with a budget surplus of $75 Billion?

Despite the well-publicised (but less often observed) increased debt recovery action from the ATO, according to the Commissioner of Taxation, the unpaid book debt is “the largest it’s ever been” more than $105 Billion with barely a dent made on ‘collectable’ debt at $46.4 Billion which doubled during the pandemic.

With a projected Federal budget deficit of $27.6 Billion this year, what a difference this could make if collected.

Notwithstanding this debt mountain, that ATO is still only deploying its full powers for those who repeatedly refuse to engage with them and continue to ignore reminders. What about the rest? Surely these hardcore recalcitrants can’t have doubled in value since 2019 or is the ATO in denial about what is really collectable?

Less talk more action ATO…